Book Recommendation family business | Startup| Sarthak Ahuja

Every Family Business has these exact issues… and they’re no less than a daily soap opera

1/ Conflict over soft issues such as:
- a feeling of one child being favoured over the other
- undercurrent of emotional baggage over non-business related matters such as preference of a romantic partner or spouse not liked by the parents
- disregard for independent career choices by children

2/ Conflict over ownership:
- unclear, pooled in shareholding in a company, trust, HUF or AOP
- parents having full ownership with no written will or conflicted view on split with children
- centralised control over funds that makes second generation feel powerless

3/ Conflict over Strategy
- old ways vs new trends and tech
- no unity of command for second level management
- financial expansion vs ethos of the business
- lack of respect for new ideas by the second generation

I’ve been a part of my family business for over a decade, and continue to play a semi-active role, juggling between some duties there along with my other ventures…

Also as a Consultant, I’ve always looked for a resource that would put down all the problems that plague a family run business in a framework and help find best practices for resolution.

Finally, I lay my hands on “Untangling Conflict: An Introspective Guide for Families in Business” by Dr. Janmajeya Sinha among others.

Sinha is the Chairman of BCG India and has advised some of the largest family run enterprises not just in India but internationally. The co-authors come with equal if not more credibility and experience in the space with Chinese, Japanese and other Asian family run businesses.

They’ve given a step by step guide to resolving such issues all with the help of a case study of a fictional family business, that’s very relatable.

Recommended read for business consultants dealing with such enterprises to understand the underlying context behind all issues, and for family business owners aiming to iron out a few such problems.
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A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.

Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.

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